What is a real-life example of the planning fallacy?
A real-life example of the planning fallacy is the construction of the Sydney Opera House in Australia. When construction began in the late 1950s, it was initially estimated that it would be completed in four years at a cost of around $7 million.
Because the government wanted the construction to start before political opposition would stop it and while public opinion was still favorable, a number of design issues had not been carefully studied in advance. Due to this, several problems appeared immediately after the project commenced.
The construction process eventually stretched over 14 years, with the Opera House being completed in 1973 at a cost of over $100 million, significantly exceeding the initial estimates.